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they cannot cross over the threshold that has been built by grover norquist. >> grover norquist joins us now exclusively here on cnbc. grover, we just heard you are the target of those comments, but did harry reid get it wrong, because i thought that your organization actually gave its blessing to boehner's plan "b." >> reid has it wrong on a number of levels. the first, of course, is that the pledge that many congressmen and senators have made to oppose tax increases is made to the people of their state, not to me. in fact, harry reid now has the republican senator joining him from nevada who won because he made that commitment. he took the pledge, and the democrat that harry reid supported attacked him for taking the pledge, and the people of nevada said we want a senator who will stand with us against harry reid's tax increases, so -- and, of course, the issue that came up with plan "b" which was mr. boehner's recommendation that we pass something out of the house which would stop all the tax increases on anyone who earned less than $1 million permanently, was something that didn't
they cannot cross over the threshold that has been built by grover norquist. >> grover norquist joins us now exclusively here on cnbc. grover, we just heard you are the target of those comments, but did harry reid get it wrong, because i thought that your organization actually gave its blessing to boehner's plan "b." >> reid has it wrong on a number of levels. the first, of course, is that the pledge that many congressmen and senators have made to oppose tax increases is...
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Dec 29, 2012
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number two, we've got grover norquist versus the gop. and here's what's fascinating. he's been a major player, a huge figure, and yet the push back has been growing. the tide has been swelling. take a look at this montage clip of republicans pushing back on grover norquist in the atr pledge. >> i'm not obligated on the pledge. >> when you're $16 trillion in debt, the only pledge we should be making to each other should be avoid greed. >> i never signed the pledge. >> he's becoming irrelevant. you can see it in his eyes. he knows the game is up. >> a pledge you sign 20 years ago, 18 years ago, is for that congress. >> i'm going to be the one to determine what a tax increase is. grover norquist is not going to determine what a tax increase is. >> message seems clear. don't fear the grover. that echoes throughout the upper echelons of the gop. >> boehner put tax revenues on the table and we heard nothing from norquist. this is a false drama, manufactured by people like you who can't stand norquist. >> people like me? just because the emperor's wearing no clothes and i th
number two, we've got grover norquist versus the gop. and here's what's fascinating. he's been a major player, a huge figure, and yet the push back has been growing. the tide has been swelling. take a look at this montage clip of republicans pushing back on grover norquist in the atr pledge. >> i'm not obligated on the pledge. >> when you're $16 trillion in debt, the only pledge we should be making to each other should be avoid greed. >> i never signed the pledge. >>...
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robert reich and grover norquist. we're getting new word now on the vice president of the united states, joe biden. what will he do if there's a senate vote tonight? stand by. where is flo? anybody know where flo is? are you flo? yes. is this the thing you gave my husband? well, yeah, yes. the "name your price" tool. you tell us the price you want to pay, and we give you a range of options to choose from. careful, though -- that kind of power can go to your head. that explains a lot. yo, buddy! i got this. gimme one, gimme one, gimme one! the power of the "name your price" tool. only from progressive. aww man. [ male announcer ] returns are easy with free pickup from the u.s. postal service. we'll even drop off boxes if you need them. visit usps.com pay, print, and have it picked up for free. any time of year. ♪ nice sweater. thank you. ♪ we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day after day... block the acid with prilosec
robert reich and grover norquist. we're getting new word now on the vice president of the united states, joe biden. what will he do if there's a senate vote tonight? stand by. where is flo? anybody know where flo is? are you flo? yes. is this the thing you gave my husband? well, yeah, yes. the "name your price" tool. you tell us the price you want to pay, and we give you a range of options to choose from. careful, though -- that kind of power can go to your head. that explains a lot....
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. >> the debate in washington continues over the fallout from the deal, grover norquist sat down with andrea mitchell yesterday on the "andrea mitchell reports" and insisted that republicans who back the fiscal cliff deal did not vote to raise taxes. >> no republican voted for a tax increase. what happened was obama had this sort of ax over the heads of the american people with a $5 trillion tax increase over the next decade. the republicans are clear. they want the tax cuts extended for everyone. the president is not taking them away from some people. that will hurt the economy. he got his tax increase. but he can't claim republican fingerprints on his tax increase. >> wait a second. i mean we're not living in the alice in wonder land world here. there is a tax increase for wealthier americans. it's literally a tax increase. >> well -- rates are up. >> what happened yesterday was that all the tax rates went up and then the republicans and congress together took them down for some people, not for everybody. >> so d.c. is still mixed on the new law but wall street seems to love it. the
. >> the debate in washington continues over the fallout from the deal, grover norquist sat down with andrea mitchell yesterday on the "andrea mitchell reports" and insisted that republicans who back the fiscal cliff deal did not vote to raise taxes. >> no republican voted for a tax increase. what happened was obama had this sort of ax over the heads of the american people with a $5 trillion tax increase over the next decade. the republicans are clear. they want the tax...
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. >> i want to hear from grover norquist because this logic is fantastic. passed by congress that raises taxes for the higher earners, extends tax cuts for many americans. the president reviewed a copy of the bill while vacationing in hawaii before directing it to be signed via auto pen. that's the signature machine that the presidents sometimes use while away from washington, far from a bipartisan public signing ceremony. look at this. >> it was special. he wanted to capture it. it was special. >> back at the capitol -- >> in wisconsin they were thinking about signing civil rights legislation with his hands, then decided use the auto pen. looks better for the history books. >> on the jetsons. >> there are several major issues -- >> rosie, by the way. >> -- awaiting the president's return including the impending fight over the debt ceiling. >> it's going to be ugly. >> meanwhile, grover norquist sat down with andrea mitchell yesterday where he insisted that republicans who backed the fiscal cliff deal did not, in fact, vote to increase taxes. >> no republic
. >> i want to hear from grover norquist because this logic is fantastic. passed by congress that raises taxes for the higher earners, extends tax cuts for many americans. the president reviewed a copy of the bill while vacationing in hawaii before directing it to be signed via auto pen. that's the signature machine that the presidents sometimes use while away from washington, far from a bipartisan public signing ceremony. look at this. >> it was special. he wanted to capture it. it...
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we're going to ask grover norquist himself if there's any room for compromise when he joins us live. you've got to stay with us right here on the "closing bell." we're now down 133 points on the dow. [ rosa ] i'm rosa and i quit smoking with chantix. when the doctor told me that i could smoke for the first week... i'm like...yeah, ok... little did i know that one week later i wasn't smoking. [ male announcer ] along with support, chantix is proven to help people quit smoking. it reduces the urge to smoke. some people had changes in behavior, thinking or mood, hostility, agitation, depressed mood and suicidal thoughts or actions while taking or after stopping chantix. if you notice any of these stop taking chantix and call your doctor right away. tell your doctor about any history of depression or other mental health problems, which could get worse while taking chantix. don't take chantix if you've had a serious allergic or skin reaction to it. if you develop these stop taking chantix and see your doctor right away as some can be life-threatening. if you have a history of heart or blo
we're going to ask grover norquist himself if there's any room for compromise when he joins us live. you've got to stay with us right here on the "closing bell." we're now down 133 points on the dow. [ rosa ] i'm rosa and i quit smoking with chantix. when the doctor told me that i could smoke for the first week... i'm like...yeah, ok... little did i know that one week later i wasn't smoking. [ male announcer ] along with support, chantix is proven to help people quit smoking. it...
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. >> all of the republicans will hear grover norquist recite over and over, every time they promise spending cuts in exchange for tax hikes, the tax hikes came, the spending cuts never came. >> and how long will the road be in terms of what the subpoenaing cuts might or might not be? that will prolong the uncertainty in the market. and with the ceo conference call in the 6:00 hour, that should be very interesting. will we feel the effect of this in the first quarter earnings and gdp, other economic data points. >> it puts republican caucus in the house in the position of having to decide whether no deal is better than a bad deal. >> you know, melissa, if i could chime in, one thing, you didn't hear the president talking about the debt ceiling, and the treasury secretary says we'll start running up against the debt ceiling on monday. that's a very controversial piece of the whole deal. they are talking about leaving that aside and revisiting it when we run out of the extraordinary measures that the treasury can put in place to keep us from hitting the debt ceiling. >> let's welcome in deutsch
. >> all of the republicans will hear grover norquist recite over and over, every time they promise spending cuts in exchange for tax hikes, the tax hikes came, the spending cuts never came. >> and how long will the road be in terms of what the subpoenaing cuts might or might not be? that will prolong the uncertainty in the market. and with the ceo conference call in the 6:00 hour, that should be very interesting. will we feel the effect of this in the first quarter earnings and...
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norquist not to allow any tax revenues whatsoever. meetings with vice president biden and cantor. cantor walked out of those meetings. he's the majority leader in the house. the gang of six, the gang of eight. we had this super committee, and they were doing good things, good things, dealing with entitlements and revenues, and a week before they would report by virtue of statute i get a letter signed by every republican too, bad about the super committee, we're not going to do anything with revenues, so this is not a capsule of a couple of days. this has been going on for years. they cannot cross over the threshold that has been built by grover for vist. people who are rich who make a lot of money, her not opposing raising taxes on them. the only people in america who don't think taxes should be raised on the rich are the republicans who work in this building. any time bhth speaker and the republican leader come to the president and say we've got a deal for you. the president's door is always own, and mine is, too. >> the senate is ba
norquist not to allow any tax revenues whatsoever. meetings with vice president biden and cantor. cantor walked out of those meetings. he's the majority leader in the house. the gang of six, the gang of eight. we had this super committee, and they were doing good things, good things, dealing with entitlements and revenues, and a week before they would report by virtue of statute i get a letter signed by every republican too, bad about the super committee, we're not going to do anything with...
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norquist. you signed the pledge not to sign taxes. >> i did. >> he supported speaker boehner's plan "b" and said it wouldn't violate his pledge. here's what he told us earlier this week. listen. >> i think in fact, plan "b" is a good step to protecting tax cuts for everybody. >> if you look at current law, current law says as we all know, part of the fiscal cliff '01, '03 tax relief measures will expire on january 1st. at this point, everybody's taxes go up. we all know that. we all want to forestall that. >> how high are you willing to go? if not a million, than what? >> well, let's bear in mind that every new tax burden we apply has consequences for the real economy and for growth, so the very west thing we could do, the very best thing we could do is we're not increasing taxes -- are you don't want to agree to that? >> exactly. i would imagine we're going to work our way and make the threshold. if that's where people have to go, we'll make the threshold as high as we can. because the more re
norquist. you signed the pledge not to sign taxes. >> i did. >> he supported speaker boehner's plan "b" and said it wouldn't violate his pledge. here's what he told us earlier this week. listen. >> i think in fact, plan "b" is a good step to protecting tax cuts for everybody. >> if you look at current law, current law says as we all know, part of the fiscal cliff '01, '03 tax relief measures will expire on january 1st. at this point, everybody's taxes...
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. >> sam, is this the end of the road for grover norquist and his pledge? >> it's odd because grover was the one sort of outside government institution on the conservative side who agreed with speaker boehner's plan "b" which would have allowed taxes to go up above $1 million in income. all the other conservative groups say no. i think grover's pledge, i don't know where it goes from here. obviously is doesn't have as much teeth as is it did because there are people who are willing to buck it. >> i think the key thing with the grover pledge though is that republicans feel like they're in such a corner here, the house is in disarray, boehner doesn't really know where his caucus is going to go. they're not really worried about grover's pledge. they're more worried about rebuilding the party and surviving this horrible moment when they barely control one chamber. >> okay. so i want to run this by you. charles krauthammer from "the washington post" has suggested this kind of complicated theory that the president has a bigger plan here. wonder if we can play thi
. >> sam, is this the end of the road for grover norquist and his pledge? >> it's odd because grover was the one sort of outside government institution on the conservative side who agreed with speaker boehner's plan "b" which would have allowed taxes to go up above $1 million in income. all the other conservative groups say no. i think grover's pledge, i don't know where it goes from here. obviously is doesn't have as much teeth as is it did because there are people who...
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allow their members to observe the grover norquist pledge and not raise taxes, which means they can't vote before midnight tomorrow to raise taxes. they could easily do that when the calendar turns into the next year. they could do that at any point, be consistent with their pledge and kind of walk away with their chins high. again, presumably observing some sort of line that the president supports about tax increases or in that case not having tax cuts for a few of the upper percentage taxpayers. that's something, again, that doesn't violate any republican pledge, so i think as a practical matter, and we heard this when plan "b" was pulled by speaker boehner, the perception is they can't allow themselves to vote for a tax increase. they don't want to get primaried, but come the new year they have an out which allows them to actually cut a deal. mitch mcconnell i think heinz what he says that he wants to get something done because they don't want to see the economy go into a tailspin. they read the same polls that you and i read which is that the president comes out way ahead these da
allow their members to observe the grover norquist pledge and not raise taxes, which means they can't vote before midnight tomorrow to raise taxes. they could easily do that when the calendar turns into the next year. they could do that at any point, be consistent with their pledge and kind of walk away with their chins high. again, presumably observing some sort of line that the president supports about tax increases or in that case not having tax cuts for a few of the upper percentage...
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he took the grover norquist pledge. he did all the things that were required of a potential republican nominee. but in each of those steps, he made it harder for him to win a general election. and he brought to this some strengths. the other thing that will the president four years ago was that romney was the likely nominee because i believe in the theory of opposites. whoever the incumbent is, people are looking for the brevity, not the replica. and romney would represent a stark difference from obama, a businessman, grounded, not a visionary, not an order for. >> so you thought he would be the nominee. you thought that through the whole entire primary process? >> i had a few moments of doubt, as i suspect he may have. but he got to those moments was to do what i said, to move to the right. with each step, i think he made himself more vulnerable. in the abstract, his profile as a businessman will stay positive, even until the final day. it was the concept of a businessman who knows how to create jobs and so on. that wa
he took the grover norquist pledge. he did all the things that were required of a potential republican nominee. but in each of those steps, he made it harder for him to win a general election. and he brought to this some strengths. the other thing that will the president four years ago was that romney was the likely nominee because i believe in the theory of opposites. whoever the incumbent is, people are looking for the brevity, not the replica. and romney would represent a stark difference...
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. >> when ronald reagan was president, grover norquist was in diapers and rush limbaugh was a disk jockey, i think, in st. louis. you have had a hermetically sealed culture grow up on the right in this country that as we saw during the last election, is removed from reality and is extreme in the most egregious way. >> and you don't have to go all the way-- >> it's much further than that. when bill clinton passed that budget deal, he didn't get a single republican vote. and there hasn't been a republican vote for tax increases in 20 years, and if the deal falls apart today-- which i think it probably will-- the reason is there will be no republican votes. even in the senate, much less to the house for a tax increase, which is what they're talking about. >> in the short term there's no political penalty to pay for that, back to your point, i guess, that we re-elected both a democratic president and because-- because of jerry manneddering, so there's no political price to pay so members of congress with vote in the interest of the their constituents and not the best center of the country. >>
. >> when ronald reagan was president, grover norquist was in diapers and rush limbaugh was a disk jockey, i think, in st. louis. you have had a hermetically sealed culture grow up on the right in this country that as we saw during the last election, is removed from reality and is extreme in the most egregious way. >> and you don't have to go all the way-- >> it's much further than that. when bill clinton passed that budget deal, he didn't get a single republican vote. and...
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grover norquist telling them they never come. they're the unicorn that doesn't exist. >> a lot of republicans at this point will say, you know what? after all of this they may not be saying publicly now, but they'll say let's just take the sequester and at least we'll be cutting some spending and we'll be cutting the actual spending and take that sequester. >> last word. >> i don't disagree with you and jimmy on this point. this is not a deficit reduction deal that will stabilize the debt to gdp ratio and that has to be -- that has to be one of the goals of a broader deal that now we're probably going to be looking for on the other side of the cliff. >> yeah. i don't know. it doesn't seem to be any part of the president's goal. jared, good to see you always. jimmy, you, too. we'll get you guys back in just a few minutes. we'll get you to the roundtable if you haven't had enough yet. what will it mean for banks? new analysis shows that the expiration ever tax cuts will improve bank savings in 2013, by, listen to this, 54%. in othe
grover norquist telling them they never come. they're the unicorn that doesn't exist. >> a lot of republicans at this point will say, you know what? after all of this they may not be saying publicly now, but they'll say let's just take the sequester and at least we'll be cutting some spending and we'll be cutting the actual spending and take that sequester. >> last word. >> i don't disagree with you and jimmy on this point. this is not a deficit reduction deal that will...
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>> about this, grover norquist to talk about it. >> love him. >> he's got to be annoyeded. >> on where is the commonground. >> thank you, ger. crude at $90.98 a barrel, up $2.37 a barrel. weaker dollar adding to that too. you saw the pictures on the eastern sea board, middle east headlines pushing prices higher. reports say that iraqi kurds suspended production by 180,000 a day. that's going to be bullish news there on the price of crude. >> a lot going on, and not all the fiscal cliff i should say, thankfully. what it means for you and your taxes. you got to hear this. >> forget holiday cheer, the top box office winners ahead. as we do every day at this time, favorite time of the day, the bond yield. there's the ten year. the perceived security of u.s. debt, the long bond. back in a moment. ♪ >> here's your fox business brief. well, more good news for recovery in the housing market in october. the latest index shows prices in the 20citi watt group, 23% year over year. chicago and new york the only cities with annual negative returns. there's a deal with walmart to build gas stations
>> about this, grover norquist to talk about it. >> love him. >> he's got to be annoyeded. >> on where is the commonground. >> thank you, ger. crude at $90.98 a barrel, up $2.37 a barrel. weaker dollar adding to that too. you saw the pictures on the eastern sea board, middle east headlines pushing prices higher. reports say that iraqi kurds suspended production by 180,000 a day. that's going to be bullish news there on the price of crude. >> a lot going on,...
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house congressman steve latourette, by the way someone who has repudiated grover norquist's pledge joins us next. >>> and mark zuckerberg's sister confused about facebook's privacy settings. we'll have the details of that ahead. people really love snapshot from progressive, but don't just listen to me. listen to these happy progressive customers. i plugged in snapshot, and 30 days later, i was saving big on car insurance. with snapshot, i knew what i could save before i switched to progressive. the better i drive, the more i save. i wish our company had something this cool. you're not filming this, are you? aw! camera shy. snapshot from progressive. test-drive snapshot before you switch. visit progressive.com today. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now a
house congressman steve latourette, by the way someone who has repudiated grover norquist's pledge joins us next. >>> and mark zuckerberg's sister confused about facebook's privacy settings. we'll have the details of that ahead. people really love snapshot from progressive, but don't just listen to me. listen to these happy progressive customers. i plugged in snapshot, and 30 days later, i was saving big on car insurance. with snapshot, i knew what i could save before i switched to...
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listen, the answer is grover norquist no new tax pledge. that alone would free the republican party to engage in good faith, sensitive negotiations. everybody knows that our taxes are now at an historic low in the contemporary era and they're going to go out sort of naturally. and with the aging of the population, i guarantee you will be somewhere around 22% gdp. wouldn't it be nice if we could acknowledge that and say what's the most bowl, efficient way to structure a tax system, probably progressive consumption tax direct it in ways to accomplish a whole host of object is. as long as you have that pledge to which members signed, it's hopeless. the republican party cannot be a player in any constructive resolution of the problems confronting the country. there is no political space for a third-party to occupy. it's based on a presumption. we have two extreme parties and there's this great center to mobilize and i'm deeply skeptical that there's room for such a party and would really play a constructive role. is it going to get worse than i
listen, the answer is grover norquist no new tax pledge. that alone would free the republican party to engage in good faith, sensitive negotiations. everybody knows that our taxes are now at an historic low in the contemporary era and they're going to go out sort of naturally. and with the aging of the population, i guarantee you will be somewhere around 22% gdp. wouldn't it be nice if we could acknowledge that and say what's the most bowl, efficient way to structure a tax system, probably...
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we can talk about the primary electorate but people like grover norquist and rush limbaugh and cable television trucks and talk-radio and they might otherwise be willing to look for solutions and can't because if they do they are dead if. they are beyond outrageous and you get no push back because whenever you have a political figure who just try is a little bit to say that is too much the new world of the media basically tells us that the business model that works is the fox news model and somehow a network of an audience at any given time as to in the half million people they can make more profits than all three network news divisions combined with an audience of 40 million people. and is that true? >> $700 million. it's enormously successful. and if we abandon that business model, if fox news to mauro says all right, here is the new message from roger ailes, can't we all just get along? we may not like what this president likes to do but he is a good man and we can find ways to work with them. i will guarantee you is that within a week there would be a news channel that take the o
we can talk about the primary electorate but people like grover norquist and rush limbaugh and cable television trucks and talk-radio and they might otherwise be willing to look for solutions and can't because if they do they are dead if. they are beyond outrageous and you get no push back because whenever you have a political figure who just try is a little bit to say that is too much the new world of the media basically tells us that the business model that works is the fox news model and...
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norquist to allow any taxes for revenues whatsoever. we had meetings with the vice president biden and cantor. he walked out of it. he's the majority leader in the house. we had this supercommittee and they were doing good things. good things. dealing with entitlements and revenues and a week before they were to report, by virtue of a statute, i get a letter signed by virtually every republican, too bad about the supercommittee. we're not going to do anything with revenues. >> okay. i think that's a good place to end this. what you're hearing is the history of what has happened to bring us to this point. i want to bring in our congressional correspondent dana bash. dana, i was just sitting here imagining someone turning on their tv thinking, what a these people talking about? and i think i would sort of boil it down to this. when they are talking on the floor, that's never a good sign. they should be talking in a back room. they have gotten nowhere. we are where we are and nobody has agreed on to come up with something. >> reporter: tha
norquist to allow any taxes for revenues whatsoever. we had meetings with the vice president biden and cantor. he walked out of it. he's the majority leader in the house. we had this supercommittee and they were doing good things. good things. dealing with entitlements and revenues and a week before they were to report, by virtue of a statute, i get a letter signed by virtually every republican, too bad about the supercommittee. we're not going to do anything with revenues. >> okay. i...